News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/uDeIMr1Ks4
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/srqRhfdKUd
  • Cable is pulling off after a strong run; near-term weakness may be the theme before trying to rally again. Get your weekly GBP technical forecast from @PaulRobinsonFX here: https://t.co/030gXzxlEc https://t.co/ux7W6OcBOm
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/FPKAoLQuuI
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/2L5DGk7cxl
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/zRBB1hmhJm
  • USD/CAD has bounced off a key support area on Friday and could potentially charge higher in the coming week as risk-aversion over coronavirus fears has started to dominate market moves. Get your weekly CAD technical forecast from @DColmanFX here: https://t.co/bySyBXTAdr https://t.co/y6UqD0quGN
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/sPcCTQfaRd
  • The US Dollar slipped last week after the Federal Reserve calmed taper timeline talks. Friday’s non-farm payrolls figure may rekindle upside USD bets if it impressive. Get your weekly USD forecast from @FxWestwater here: https://t.co/4KDanAA0Q1 https://t.co/ZZWpIZlZBo
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/J0F9xIw2I0
FOREX Trading: EUR/USD 'Sell the News' Trade Still in Play Today

FOREX Trading: EUR/USD 'Sell the News' Trade Still in Play Today

Jamie Saettele, CMT, Sr. Technical Strategist

FXCM Expo Videos

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

The EURUSD 13030/65 region has been reached and near term pattern suggests that it’s time to start looking lower. I wrote yesterday that “given event risk tomorrow (Fed), I’d not be surprised to see an emotional market that spikes through that level and into 13065. Ultimately, the rally from Friday’s low is expected to prove corrective before lower prices are registered later in the month.” Interestingly, the advance from Friday’s low is best interpreted as impulsive. Regardless, the 4th wave of one less degree at 12995 should be revisited. Strategically, I’m a buyer at 12950 and a seller at 13065. I rarely publish intraday charts anymore, but the current pattern is so clean that a look at the near term is warranted.

The USDJPY triangle thrust appears to be underway. No change: “USDJPY trade since 8283 may compose a triangle. Friday’s FX Technical Weekly provides a detailed look at what may be going on longer term. Near term, the 4th wave interpretation suggests a terminal thrust higher through 8283. Watch 8356 for a reversal. As mentioned last week, I don’t like a long idea based on the reversal following NFP. Reversals on news are often liquidity events that mark the end of a larger move.

The AUDUSD is nearing a confluence of channels and 14 month trendline resistance. I’d be willing to fade (short) a spike above 10600 post FOMC.

EURUSD – 60 Minute Bars

FOREX_Trading_EURUSD_Sell_the_News_Trade_Still_in_Play_Today_body_eurusd.png, FOREX Trading: EUR/USD 'Sell the News' Trade Still in Play Today

Prepared by Jamie Saettele, CMT

USDJPY – Daily Bars

FOREX_Trading_EURUSD_Sell_the_News_Trade_Still_in_Play_Today_body_usdjpy.png, FOREX Trading: EUR/USD 'Sell the News' Trade Still in Play Today

Prepared by Jamie Saettele, CMT

AUDUSD – Daily Bars

FOREX_Trading_EURUSD_Sell_the_News_Trade_Still_in_Play_Today_body_audusd.png, FOREX Trading: EUR/USD 'Sell the News' Trade Still in Play Today

Prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES